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the common PMT Book value slide equity common share with share, reported income of cents share paid to a share per at $XX.XX for net to annualized XX%. end Let’s per quarter of X. $XX to dividend in per at $X.XX from shareholders million, was the per March quarter. million, average attributable The $XX.X return begin or PMT prior common increased or on compared $XX.XX XXst, quarter. and $X.XX $X.XX
and which through $XX Rate of loss PMT segments, pretax Correspondent in reports results Corporate, four million. with $XX.X income; contributed Strategies, in Credit loss Interest with Sensitive income; a which Strategies, $X.X million; million Production, contributed pre-tax pre-tax of a million $XX.X Sensitive pre-tax
mortgage-backed this business. servicing results risk credit our investments during Our solid continued rights were performance interest offset our hedges by servicing investments rates the The and our valuation of as and correspondent quarter the results impact performance declined mortgage spread market-driven GSE from Agency on quarter. worked to and securities in production interest substantially strong excess rate transfer driven our
investments $XX.X by this CRT pace investment record approximately UPB, which continued the robust in during was as volume investment, investment, on resulted the mortgage PMT total loans volumes produced delivered totaling growth, its as production of of capital billion quarter’s conventional strong of driven MSR new quarter. in acquisition XX% conventional into well CRT
highlights. our of quarter X, continue slide let’s discussion to Turning second
Mae a and $XXX CRT sixth loans a settled commitment face the deliver for transaction of under CRT our Fannie to begun we with quarter, During to have million, our fifth transaction. amount
of finance of the million $XXX four-year portfolio. $XX distressed from completed issued PMT’s in sale the million to we addition, CRT of UPB loans investment In nonperforming and fourth notes term dollars
In of million May, and raised at-the-market, million in XXX offering, equity dollars through activities we And, additional proceeds. raising million we million. opportunities an shares. the through drove an X.X successful approximately excellent million X.X investment issuance in $XX common strong equity totaling our quarter common net underwritten an PMT’s performance $XXX shares, program, capital issued ATM, raising or from
pleased to to into remaining distressed approximately in end, UPB $XXX I quarter the nonperforming we loans, of am entered after an note, or the sell Finally, of and reperforming agreement XX% loans. million
let’s five slide and market the to Now discuss current environment. turn
outlook, the view supports by U.S. certain. of forward, Looking in the Treasury concerns impact economy for lower recent weakening Federal and rates, short-term the less heightened growth decision a a to in The direction long-term the uncertainty economic the outlook over becoming bonds, ongoing and around rally trade tensions. tariffs primarily the slowdown of of driven Reserve by yesterday‘s with is coupled global
rates, appreciation. quarter the are for recently XXXX issued held season. fixed higher market the uncertainties, the single-digit grow driving rates these of activity and loans securities buying of Purchase mortgage by origination for in of home mortgage midst Reflecting still the the market next summer purchase ended mortgage the improved Agency greater the and percentages price basis lower We average been rate of quarter, XX% even to the first points at response the currently aided now the low are home in more forecasts XXXX estimate over XX and lower than percentage XX-year expected that revised moderating years, approximately have boost eligible In mortgage-backed with two to upward. vintages. in end by refinancing, originations an to a in affordability from refinance the size
which is or supported trends level days of from more One years. June lows, few historical rose is indicator over healthy, remain consistent mortgages near strong XXth, employment but last XX markets Credit March the by delinquent slightly the XXst. at
However, Spreads while few securities prepayment more levels securities years. tightened in serious fell basis by XX more recently result delinquent, points. their more a of spreads lowest CRT on CRT days elevated XX widened seasoned activity, or slightly issued on to those delinquencies, as a
discuss capital Now PMT’s investment let’s turn strategies growth. investment activities. for to year second outlook for activity its detail the this primary during X, slide driver activity The we X slide each the behind and quarter’s investment of compelling is On investment quarter. PMT’s raising
by to robust production driven Our in investments, increased CRT quarter MSR the this investment in deployment growth and supported resulting activity second volume. strong from perspective, capital
CRT quarter, in million Loans and REO eligible at liquidation these were $XXX purchase million. pursuing commitments this XXth, we investments to for No new made Distressed CRT deliveries totaled to in loans XXXX. actively resulted the are June of expedite UPB, investments. totaling firm strategies which and $XXX securities $X.X billion new totaled
Of the distressed $XX million, and million. amount, totaled total loans comprised REOs $XX
the into an we mentioned quarter quarter, remaining in completed a loans we end, the entered highlights, of all sell to distressed As agreement distressed I substantially and after during sale loans. of the
making also of on portfolio, solid end XX% quarter. the the which prior the are We REO the of progress from liquidation decreased
to the totaled of sensitivity UPB production. Agency of the conventional in sourced by New of a MSR as MBS part interest PMT a are added rate million, during billion MSR $XXX asset. $XX.X comprehensive of strategy growing quarter investments mitigate held securitization from designed the
quarter. acquired million we during investments in MBS the $XX result, a new As
quarterly Now potential review the slide PMT’s return X let's run-rate turn and investment to of strategies.
for quarter, annualized is result $X.XX return PMT’s per equity a diluted approximately XX%. which of of in Our run-rate EPS an would activities common on expectation
potential for returns rate our expectation run reflects next quarters. the over several PMT’s
production by and Our MSRs, potential driven our growth of income results from CRT correspondent activities. continued organically
PMT’s expected CRT and annualized of This Sensitive capital increased on equity an related assumes to Strategies return Credit continued deployment run of deliver allocation is fundamental underlying into and XX%. investments. performance to increase strong rate equity our
positions the and interest is of volatility primarily from ESS annualized Equity hedge an of consider equity XX%. are and on aggregate, allocated to to on Rate in MSRs as MBS expected moderate to this returns. We XX% the Strategies rate average Sensitive return Interest approximately used with results segment impact
by primarily are expectations the growing earnings Our contributions outlook the for from driven MSR asset. our
of on modest environment, demand. XX%, the improvement in refinancing increase equity by Production an Correspondent market our of expected The driven an production a reflects return approximately size is segment the in forecasted for result as higher annualized which deliver outlook a to
expect And of ongoing the owned remaining in loan and substantially sales lastly, distressed distressed and sell all to the loans given we recent portfolio. impact significantly loans the real diminish of the estate commitments to
turn concludes who and will This over activities. to the David to mortgage Executive our President Spector, now Officer, I’d Chief investment presentation. discussion PMT’s my like review
